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IIA Exam IIA-CIA-Part2 Topic 7 Question 61 Discussion

Actual exam question for IIA's IIA-CIA-Part2 exam
Question #: 61
Topic #: 7
[All IIA-CIA-Part2 Questions]

An internal auditor wanted to determine whether the organization's 200 employees are charging their work hours accurately to the correct project. The internal auditor selected a sample of 30 employee time reports for testing. Based on the testing, the internal auditor determined the following:

- 5 Time reports were incorrect.

- 21 Time reports were correct.

- 4 Time reports were not supported.

Show Suggested Answer Hide Answer
Suggested Answer: C

by Flo at Jul 05, 2023, 08:06 AM

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Ona
2 months ago
Wait, where's the option that says 'The organization needs to invest in a better time tracking system, preferably one with fingerprint scanners and surveillance cameras'?
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Zona
2 months ago
Option C is too extreme. You can't just assume the organization is overstating costs due to a few issues with the time reports.
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Tomoko
29 days ago
User Comment: Option C is too extreme. You can't just assume the organization is overstating costs due to a few issues with the time reports.
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Gail
1 months ago
C
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Vallie
1 months ago
B) The organization needs to ensure that all reporting of employee time is accurate and complete for each of its projects By doing so the organization can minimize potential issues related to overstating employee times and labor project costs.
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Gary
1 months ago
A) The organization has significant flaws in its reporting of employee time, which could lead to the overstatement of project labor costs. The organization's failure to report accurate and complete employee time could lead to potential fraud and abuse.
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Miesha
1 months ago
B
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Lemuel
2 months ago
A
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Bettina
3 months ago
I'd go with option D. The results indicate some issues, but overall the time reporting seems reasonably accurate.
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Samuel
29 days ago
Definitely. It's crucial for the organization to maintain accurate and complete reporting of employee time to avoid potential issues related to project labor costs.
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Viva
1 months ago
That makes sense. It's important to address those instances of incorrect or unsupported time reports to ensure accurate project costs.
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Vincent
1 months ago
The organization generally ensured that employee hours charged to each project were accurate and complete. However, there were instances of employee time reports that were incorrect or not supported to justify the multiple project labor costs.
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Alyce
1 months ago
I think option D is a good balance, recognizing the issues while also acknowledging the organization's efforts to maintain accuracy in time reporting.
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Cordelia
1 months ago
I'd go with option D. The results indicate some issues, but overall the time reporting seems reasonably accurate.
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Skye
1 months ago
Yeah, option D acknowledges the issues but also highlights that overall the organization ensured accurate reporting of employee hours.
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Isreal
2 months ago
I agree, option D seems like the best choice. It shows that most of the time reports were accurate.
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Geraldine
2 months ago
True, the organization should still address those issues to ensure accurate reporting.
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Milly
2 months ago
But we can't ignore the few incorrect or unsupported reports.
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Jerlene
2 months ago
Yeah, it shows that most of the time reports were accurate.
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Nguyet
3 months ago
I agree, option D seems like the best choice here.
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Johnathon
3 months ago
I believe option D provides a balanced view. While most employee hours were accurate, there were still some issues that need to be addressed.
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Renato
3 months ago
I agree with Goldie. Option B seems like the best course of action to ensure accurate reporting of employee time.
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Goldie
3 months ago
I think option A is concerning. Overstating project costs due to inaccurate reporting could lead to fraud.
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Jaclyn
3 months ago
I believe option D provides a balanced view. It acknowledges the accuracy of most reports but also highlights the issues with some time reports.
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Marta
3 months ago
Option B seems the most straightforward. The organization needs to tighten up its time reporting procedures to avoid potential problems.
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Jess
2 months ago
B) The organization needs to ensure that all reporting of employee time is accurate and complete for each of its projects By doing so the organization can minimize potential issues related to overstating employee times and labor project costs.
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Margurite
3 months ago
A) The organization has significant flaws in its reporting of employee time, which could lead to the overstatement of project labor costs. The organization's failure to report accurate and complete employee time could lead to potential fraud and abuse.
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Fabiola
3 months ago
I agree with Leota. Option B seems like a good solution to ensure accurate reporting of employee time.
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Dorthy
3 months ago
This question is really tricky. I'm not sure if I can trust any of these answers.
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Leota
3 months ago
I think option A is concerning. Overstating project labor costs due to inaccurate reporting could lead to fraud.
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